4. In the economy depicted, the $5 billion inflationary expenditure gap: a. expands real GDP to $530
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4. In the economy depicted, the $5 billion inflationary expenditure gap:
a. expands real GDP to $530 billion.
b. leaves real GDP at $510 billion but causes inflation.
c. could be remedied by equal $5 billion increases in taxes and government spending.
d. implies that real GDP exceeds nominal GDP.
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Related Book For 
Macroeconomics
ISBN: 9781259915673
21st Edition
Authors: Campbell McConnell, Stanley Brue , Sean Flynn
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